Summit Industrial Income REIT (OTCMKTS:SMMCF) Rating Lowered to Buy at Desjardins

Summit Industrial Income REIT (OTCMKTS:SMMCFGet Rating) was downgraded by research analysts at Desjardins to a “buy” rating in a report released on Tuesday, The Fly reports.

Several other analysts also recently issued reports on SMMCF. Canaccord Genuity Group downgraded shares of Summit Industrial Income REIT from a “buy” rating to a “hold” rating and increased their price objective for the company from C$22.00 to C$23.50 in a research report on Tuesday. Raymond James downgraded shares of Summit Industrial Income REIT from an “outperform” rating to a “market perform” rating in a research report on Tuesday. TD Securities increased their target price on Summit Industrial Income REIT from C$19.50 to C$22.00 in a research note on Thursday, August 11th. Finally, Scotiabank reduced their target price on Summit Industrial Income REIT from C$22.00 to C$21.50 in a research note on Friday, October 28th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Industrial Income REIT presently has a consensus rating of “Hold” and an average target price of $23.44.

Summit Industrial Income REIT Stock Performance

OTCMKTS:SMMCF opened at $16.65 on Tuesday. Summit Industrial Income REIT has a 12-month low of $11.84 and a 12-month high of $18.83. The company’s 50-day moving average is $13.36 and its two-hundred day moving average is $14.00.

Summit Industrial Income REIT Company Profile

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Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. Summit II's units are listed on the TSX and trade under the symbol SMU.UN.

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